| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $39M | $9M | $21M | 352.4% | 81.3% |
| Op. Income | $14M | -$19M | -$7M | 173.7% | 290.2% |
| Gross Margin | 81.7% | 71.3% | 83.0% | 10.3pp | -1.3pp |
| Net Margin | 24.7% | -228.1% | -48.4% | 252.7pp | 73.0pp |
| EPS (Diluted) | $0.11 | $-0.22 | $-0.13 | 150.0% | 184.6% |
| Free Cash Flow | $20M | -$8M | -$18M | 348.2% | 207.3% |
| Item | Amount |
|---|---|
| REVENUE | $39M |
| Cost of Revenue | $7M |
| GROSS PROFIT | $32M |
| R&D Expenses | $33M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $11M |
| Other Expenses | -$27M |
| Operating Expenses | $18M |
| Cost & Expenses | $25M |
| OPERATING INCOME | $14M |
| Interest Income | $656.0K |
| Interest Expense | $2M |
| Other Income/Expenses | -$4M |
| INCOME BEFORE TAX | $10M |
| Income Tax Expense | $18.0K |
| Net Income from Continuing Ops | $10M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $10M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $10M |
| D&A | $3M |
| EBIT | $14M |
| EBITDA | $17M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $39M |
| Cost of Revenue | $7M |
| GROSS PROFIT | $32M |
| R&D Expenses | $33M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $11M |
| Other Expenses | -$27M |
| Operating Expenses | $18M |
| Cost & Expenses | $25M |
| OPERATING INCOME | $14M |
| Interest Income | $656.0K |
| Interest Expense | $2M |
| Other Income/Expenses | -$4M |
| INCOME BEFORE TAX | $10M |
| Income Tax Expense | $18.0K |
| Net Income from Continuing Ops | $10M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $10M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $10M |
| D&A | $3M |
| EBIT | $14M |
| EBITDA | $17M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $10M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $531.0K |
| Change in Working Capital | $6M |
| OPERATING CASH FLOW | $20M |
| Capital Expenditure | -$520.0K |
| Acquisitions (Net) | $4.0K |
| Purchases of Investments | -$15M |
| Sales/Maturities of Investments | $22M |
| Other Investing Activities | -$4.0K |
| NET CASH FROM INVESTING | $6M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $180.0K |
| FREE CASH FLOW | $20M |
| Net Change in Cash | $26M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $51M |
| Short-Term Investments | $27M |
| Net Receivables | $11M |
| Inventory | $2M |
| Other Current Assets | $6M |
| TOTAL CURRENT ASSETS | $97M |
| PP&E (Net) | $44M |
| Goodwill | $2M |
| Intangible Assets | $0 |
| Long-Term Investments | $2M |
| Tax Assets | $0 |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $51M |
| TOTAL ASSETS | $148M |
| Account Payables | $2M |
| Short-Term Debt | $0 |
| Deferred Revenue | $7M |
| Other Current Liabilities | $14M |
| TOTAL CURRENT LIABILITIES | $25M |
| Long-Term Debt | $40M |
| Deferred Revenue NC | $360.0K |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1M |
| TOTAL NON-CURRENT LIABILITIES | $72M |
| TOTAL LIABILITIES | $97M |
| Common Stock | $9.0K |
| Additional Paid-In Capital | $657M |
| Retained Earnings | -$607M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $8.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $51M |
| Minority Interest | $0 |
| TOTAL EQUITY | $51M |
| TOTAL LIABILITIES & EQUITY | $148M |
| Total Debt | $73M |
| Net Debt | $22M |
